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Global factory exports lost ground outside China after 2008, Richard Baldwin argues

Global factory exports lost ground outside China after 2008, Richard Baldwin argues
China export gains hid global shift

Richard Baldwin observes that while the world often discusses slowbalisation in manufacturing, true deglobalisation actually occurred, with China's rise obscuring this trend. After 2008, manufacturing exports from the rest of the world declined relative to world GDP, whereas China's share increased by almost the same amount.

Baldwin previously argued that tariffs on U.S. imports are effectively passed on to American consumers, functioning as a domestic sales tax rather than raising revenue from overseas ("Tariffs on imports effectively act as a U.S. sales tax"). In separate commentary, he noted that policy efforts in the U.S. and Europe to address deindustrialisation have struggled to target the real economic drivers of the trend ("Efforts to cure deindustrialisation miss key targets"). These observations add context to Baldwin's latest remarks on shifts in global manufacturing exports.

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